Pine Tree Acquisition Corp. Completes Sale of 600,000 Units Under Partial Over-Allotment Exercise
Pine Tree Acquisition Corp. completed the sale of 600,000 additional units following a partial exercise of its over-allotment option in connection with its initial public offering.
Pine Tree Acquisition Corp. completed the sale of 600,000 additional units after a partial exercise of the over-allotment option linked to its initial public offering. The units were sold to Maxim Group LLC, the offering’s underwriter and sole book-running manager, at $10.00 per unit, producing gross proceeds of $6,000,000.
Each unit contains one Class A ordinary share and one right. The right entitles its holder to receive three-fourths (3/4) of one Class A ordinary share when the company completes an initial business combination, subject to adjustment.
The units trade on the Nasdaq Global Market under the symbol “PAXGU.” After the securities within the units begin trading separately, the Class A ordinary shares and rights are expected to be listed on Nasdaq under “PAXG” and “PAXGR,” respectively.
Pine Tree Acquisition Corp. had granted the underwriters a 45-day option to purchase up to an additional 1,500,000 units at the initial offering price to cover over-allotments, if any. Maxim Group LLC served as lead book-running manager for the offering.
An aggregate of $106,000,000 from the net proceeds of the initial public offering, including the partial exercise of the over-allotment option, and a simultaneous private placement of units was placed in trust.
Pine Tree Acquisition Corp. is a Cayman exempt company established as a blank check company. Its stated purpose is to pursue a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. The company is led by Chairman of the Board and Chief Executive Officer Wei Qian.
The company’s registration statement on Form S-1, SEC File No. 333-292289, was declared effective by the Securities and Exchange Commission on October 5, 2026. The offering was made only by means of a prospectus.
The company stated that the offering does not constitute an offer to sell or a solicitation of an offer to buy. No sale may take place in a state or jurisdiction where the offer, solicitation or sale would be unlawful before registration or qualification under applicable securities laws.
Pine Tree Acquisition Corp. also said there can be no assurance that the offering’s net proceeds will be used as described in the prospectus. Its forward-looking statements are subject to numerous conditions, including matters beyond the company’s control and the risk factors set out in its registration statement and prospectus. The company said it assumes no obligation to update those statements for later revisions or changes except as required by law.
Pine Tree Acquisition Corp. announced that it completed the sale of an additional 600,000 units following the partial exercise of the over-allotment option granted to Maxim Group LLC in connection with its initial public offering. The units were sold at $10.00 per unit and generated gross proceeds of $6,000,000.
Pine Tree Acquisition Corp. made the announcement on October 15, 2026. It relates to the completed sale of additional units under the over-allotment option from the Company's initial public offering.
Pine Tree Acquisition Corp. received gross proceeds of $6,000,000 from the sale of the additional 600,000 units. The units were issued at $10.00 per unit.
Pine Tree Acquisition Corp. completed the sale of an additional 600,000 units under a partial exercise of the over-allotment option. The option had allowed the underwriters to purchase up to an additional 1,500,000 units at the initial offering price to cover over-allotments, if any.
Each Pine Tree Acquisition Corp. unit consists of one Class A ordinary share and one right. The right entitles its holder to receive three-fourths (3/4) of one Class A ordinary share when the Company completes an initial business combination, subject to adjustment.
Pine Tree Acquisition Corp.'s units are listed on the Nasdaq Global Market under the ticker symbol "PAXGU." Once the securities comprising the units begin separate trading, the Class A ordinary shares and rights are expected to be listed on Nasdaq under the symbols "PAXG" and "PAXGR," respectively.
Pine Tree Acquisition Corp. is a Cayman exempt company formed as a blank check company. Its purpose is to enter into a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganisation or similar business combination with one or more businesses or entities.
Pine Tree Acquisition Corp. is led by its Chairman of the Board and Chief Executive Officer, Wei Qian.
An aggregate of $106,000,000 from the net proceeds of the initial public offering, including the partial exercise of the over-allotment option, and a simultaneous private placement of units was placed in trust.
Pine Tree Acquisition Corp. granted the underwriters a 45-day option to purchase up to an additional 1,500,000 units at the initial offering price to cover over-allotments, if any. Maxim Group LLC acted as the lead book-running manager for the offering and as underwriter and sole book-running manager.
Pine Tree Acquisition Corp.'s registration statement on Form S-1 relating to the securities was declared effective by the Securities and Exchange Commission on October 5, 2026. The filing carries SEC File No. 333-292289.
Pine Tree Acquisition Corp. said that no assurance can be given that the net proceeds of the offering will be used as indicated in the prospectus. The Company also said its forward-looking statements are subject to numerous conditions, many beyond its control, including those in the risk factors section of its registration statement and prospectus, and that it undertakes no obligation to update them except as required by law.